Automotive company TVS Motors is set to unveil its complete range of two and three-wheelers that will have a power output of 5-25 kilowatts in the coming couple of years.
The Chennai-based company has already set aside an investment of Rs 1000 crore for its electric vehicles (EV) business.
Simultaneously, it will continue investing in conventional engine vehicles. TVS targets attaining a key spot in India’s emerging EV space.
Around 500 engineers are likely to be involved in their EV venture that will be related to the development of such vehicles.
“We are excited about EVs. We're investing in building capability and products to play a leading role in this in the EV space going forward, which we believe will grow fast,” Sudarshan Venu, Joint Managing Director of TVS Motor Company, was quoted in a report by the Press Trust of India (PTI).
The company will have a complete range that will be launched in stages in the coming two-five years from the 5-25 kilowatts range in both two and three wheelers for passenger as well as cargo segments.
It will also be announcing an upgrade to its existing electric scooter, which is the TVS iQube, in around the next two months.